Federal Direct Grad PLUS Loans

Federal Direct Grad PLUS loans are credit-based loans available to eligible law and graduate students enrolled in an eligible degree or certificate program on at least a half-time basis (six credit hours per term).

Students interested in applying for a Federal Direct Grad PLUS Loan must complete:

  1. The Free Application for Federal Student Aid for the appropriate school year.
  2. A Federal Direct Grad PLUS Loan application for the appropriate year at studentaid.gov.
  3. New borrowers must complete Loan Entrance Counseling and sign a Grad PLUS Master Promissory Note. Both can be completed at studentaid.gov.

These applications must be submitted at least six weeks prior to the start of the term for Direct Loan funding to be available by the time classes begin.

The maximum annual loan is determined by the Cost of Attendance (COA), as established by the Office of Financial Aid, minus any other financial assistance that the student will receive.

Interest rates are set by the federal government every July 1st for the following year. The interest rate for Grad PLUS Loans disbursed on or after July 1, 2023, and before July 1, 2024, is 8.05%. The interest rate for Grad PLUS Loans disbursed on or after July 1, 2024, and before July 1, 2025, is 9.08%. All loans disbursed on or after October 1, 2020, will have an origination fee of 4.228% deducted from the amount borrowed.

Upon receipt of the appropriate application file from studentaid.gov, the Financial Aid Office will determine the loan eligibility and originate the loan. A credit check will determine your eligibility for this loan.

Your loan will not disburse until a Master Promissory Note has been signed. Academic year Grad PLUS loans are disbursed one half each semester, at the beginning of each semester, by a direct credit to your account. For summer session and single term loans, one disbursement is made at the beginning of the term.